Torrent Pharma, the flagship company of the Torrent Group, have announced their acquisition of the domestic formulations business of Unichem Laboratories, one of India's oldest and largest pharma companies, for about Rs 3,600 crores (around $556m), through a business transfer agreement, as reported by The Economic Times and Business Standard.

Desai & Diwanji partner Shyam Pandya has joined as an associate partner of Economic Laws Practice (ELP) in its corporate, commercial, private equity and venture capital team in Mumbai, according to a press release from the firm.

"Global private equity (PE) firm Carlyle Group has emerged as the front runner for GE Capital Corp’s stake in SBI Card, the credit card joint venture between the US-based company and India’s largest lender State Bank of India (SBI). Carlyle has emerged as the front runner for GE Capital’s stake in SBI Cards for somewhere around $325 million. The board of SBI settled upon the final bidder in a meeting. Carlyle has pipped Warburg Pincus and Credit Saison and emerged as the final bidder though the deal is not closed yet,” reported Mint.

As first reported by us in October when battle lines were first being drawn, Desai & Diwanji is continuing to represent ousted Tata Sons chairman Cyrus Mistry, who has now, via his company Cyrus Investments, filed in the National Company Law Tribunal (NCLT) against Tata Sons, with Cyril Amarchand Mangaldas also having been roped in to advise the Tatas.

Tata Sons’ former chairman Cyrus Mistry, who was unexpectedly fired from the organisation on Monday, has reportedly decided to approach the Bombay high court challenging his dismissal, although we understand that no case has been filed yet.